Induced innovation, inventors and the energy transition

Dugoua, Eugenie ORCID: 0000-0002-4176-8740 and Gerarden, Todd D. (2023) Induced innovation, inventors and the energy transition. CEP Discussion Papers (CEPDP1951). London School of Economics and Political Science. Centre for Economic Performance, London, UK.

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Abstract

We study how individual inventors respond to incentives to work on 'clean' electricity technologies. Using natural gas price variation, we estimate output and entry elasticities of inventors and measure the medium-term impacts of a price increase mirroring the social cost of carbon. We find that the induced clean innovation response primarily comes from existing clean inventors. New inventors are less responsive on the margin than their average contribution to clean energy patenting would indicate. Our findings suggest a role for policy to increase the supply of clean inventors to help mitigate climate change.

Item Type:	Monograph (Discussion Paper)
Official URL:	https://cep.lse.ac.uk/_new/publications/discussion...
Additional Information:	© 2023 The Author(s)
Divisions:	Geography & Environment
Subjects:	H Social Sciences > HC Economic History and Conditions T Technology > TD Environmental technology. Sanitary engineering
JEL classification:	Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q3 - Nonrenewable Resources and Conservation > Q31 - Demand and Supply Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics > Q55 - Technological Innovation Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q4 - Energy > Q40 - General
Date Deposited:	16 Jan 2024 14:15
Last Modified:	01 Oct 2024 03:20
URI:	http://eprints.lse.ac.uk/id/eprint/121309

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